CRISPR Therapeutics (NASDAQ:CRSP) Reaches New 12-Month Low – Here’s Why

CRISPR Therapeutics AG (NASDAQ:CRSP)’s stock price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $38.29 and last traded at $38.33, with a volume of 449097 shares trading hands. The stock had previously closed at $40.02.

Wall Street Analyst Weigh In

CRSP has been the topic of a number of analyst reports. Barclays lowered their price objective on shares of CRISPR Therapeutics from $59.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 6th. StockNews.com upgraded shares of CRISPR Therapeutics to a “sell” rating in a research note on Wednesday, December 11th. Royal Bank of Canada restated a “sector perform” rating and issued a $53.00 price objective on shares of CRISPR Therapeutics in a research report on Wednesday, November 6th. JMP Securities reissued a “market outperform” rating and set a $86.00 target price on shares of CRISPR Therapeutics in a research note on Friday, December 20th. Finally, Needham & Company LLC restated a “buy” rating and issued a $84.00 price target on shares of CRISPR Therapeutics in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $77.93.

CRISPR Therapeutics Stock Performance

The stock has a market cap of $3.28 billion, a PE ratio of -13.57 and a beta of 1.62. The business has a 50-day moving average of $47.68 and a 200 day moving average of $49.95.

CRISPR Therapeutics (NASDAQ:CRSP) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($1.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.42) by $0.41. The business had revenue of $0.60 million for the quarter, compared to the consensus estimate of $6.65 million. CRISPR Therapeutics had a negative net margin of 118.13% and a negative return on equity of 12.15%. During the same quarter in the prior year, the firm posted ($1.41) earnings per share. Equities analysts expect that CRISPR Therapeutics AG will post -5.13 EPS for the current fiscal year.

Insider Transactions at CRISPR Therapeutics

In other news, General Counsel James R. Kasinger sold 1,089 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $46.28, for a total transaction of $50,398.92. Following the completion of the sale, the general counsel now directly owns 62,597 shares in the company, valued at $2,896,989.16. This represents a 1.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Samarth Kulkarni sold 30,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $55.62, for a total value of $1,668,600.00. Following the completion of the transaction, the chief executive officer now directly owns 196,540 shares in the company, valued at $10,931,554.80. This trade represents a 13.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,382 shares of company stock worth $2,744,179 over the last quarter. 4.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CRISPR Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates grew its holdings in shares of CRISPR Therapeutics by 10.0% during the 2nd quarter. Raymond James & Associates now owns 38,433 shares of the company’s stock worth $2,076,000 after purchasing an additional 3,479 shares during the period. Bank of New York Mellon Corp raised its stake in shares of CRISPR Therapeutics by 4.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 78,692 shares of the company’s stock valued at $4,250,000 after acquiring an additional 3,378 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of CRISPR Therapeutics by 9.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,474 shares of the company’s stock valued at $1,160,000 after acquiring an additional 1,884 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in CRISPR Therapeutics by 14.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 61,559 shares of the company’s stock worth $3,325,000 after purchasing an additional 7,560 shares during the period. Finally, Banque Cantonale Vaudoise increased its holdings in CRISPR Therapeutics by 4.7% in the 2nd quarter. Banque Cantonale Vaudoise now owns 17,376 shares of the company’s stock valued at $939,000 after purchasing an additional 782 shares in the last quarter. 69.20% of the stock is currently owned by institutional investors and hedge funds.

CRISPR Therapeutics Company Profile

CRISPR Therapeutics is a gene-editing company focused on developing transformative gene-based medicines for serious diseases using its proprietary CRISPR/Cas9 platform. CRISPR/Cas9 is a revolutionary gene-editing technology that allows for precise, directed changes to genomic DNA. CRISPR Therapeutics has established a portfolio of therapeutic programs across a broad range of disease areas including hemoglobinopathies, oncology, regenerative medicine and rare diseases.